Which is central bank of india

NEW DELHI: Shares of PSU banks were trading with losses in Friday's session. Shares of Punjab National Bank (up 1.68 per cent) , State Bank of India (up 1.33 per cent) , Union Bank of India (up 1.28 per cent) , Bank of Baroda (up 0.91 per cent) , Canara Bank (up 0.72 per cent) , Indian Overseas Bank (up 0.69 per cent) , Indian Bank (up 0.57 per cent) and Central Bank of India (up 0.37 per cent) were among the top gainers. The Nifty PSU Bank index was trading 0.81 per cent up at 1132.05 around 02:20PM. Benchmark NSE Nifty50 index was up 52.35 points at 9542.45, while the BSE Sensex was up 104.37 points at 32304.96. Among the 50 stocks in the Nifty index, 37 were trading in the green, while 13 were in the red. Shares of Vodafone Idea, IDFC First Bank Ltd., BHEL, Federal Bank, Tata Motors, SBI, Tata Power, ICICI Bank, Axis Bank and GMR Infra were among the most traded shares on the NSE. … [Read more...] about Share market update: PSU bank shares gain; PNB rises nearly 2%

The Reserve Bank of India on Friday imposed fines on Citibank, Bharat Co-operative Bank, TJSB Sahakari Bank and the Nagar Urban Co-operative Bank for deficiencies in regulatory compliance. Notably, this is the second successive day of the RBI imposing fines on banks, having slapped Bank of India, Karnataka Bank and Saraswat Co-operative Bank with penalties on Thursday. Citibank was fined Rs 4 crore by the regulator, whereas Bharat Co-operative bank, TJSB Sahakari Bank and Nagar Urban Co-operative Bank were fined Rs 60 lakh, Rs 45 lakh and Rs 40 lakh respectively. Citibank RBI on Friday announced that it had imposed a Rs 4 crore penalty on Citibank in January 2020. The Apex Regulator said this was “for contravention of Section 10 (1) (b) (ii) of Banking Regulation Act, 1949 (t and for non-compliance with the directions issued by RBI on obtaining declaration from customers about credit facilities enjoyed with other banks, granting non-fund based facilities to non-constituent … [Read more...] about RBI imposes penalty on Citibank, TJSB Sahakari Bank, Bharat Co-op Bank and Nagar Urban Co-op Bank

By Andy Mukherjee The spread of the coronavirus in India is showing no sign of abatement. Unless it catches a lucky break, Asia’s No. 1 pandemic hotspot is still a month or more away from a peak in infections (currently above 165,000) despite a severe lockdown. Tricky as the situation is for the country’s patchy healthcare infrastructure, the disease won’t be India’s only curve to flatten. The squiggly line that joins the cost of money at different maturities — the yield curve — deserves just as much attention. It’s unhealthy in an economy headed for a recession that 10-year funds cost nearly 5.75%, almost 275 basis points more than the three-month treasury bill yield. The central bank is slashing short-term rates and flooding banks with liquidity, and yet the long-term cost of capital is refusing to head lower. In large developing economies deeply challenged by the virus, from Brazil to Indonesia, the yield curve, or the excess of … [Read more...] about View: The pandemic isn’t India’s only curve to flatten